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Fuck i cant comprehend it. Please somebody else chime in and help out or comment on this situation lol
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How does that make sense? Using that logic wouldnt i be able to randomly buy a bit coin and see the whole history of it...
Yep. Of course, there are no actual "coins", that is just a term used to make it easier for the average person to talk about. But what represents the value of transactions in the blockchain ("inputs" and "outputs") can be traced back from address to address all the way back to when it first came into existence with a miner. Now multiple inputs get joined together into fewer (or more) outputs so you end up with quite a tree of connections after a while, but if you want to follow it from address to address the information is all there. The blockchain is a record of every valid bitcoin transaction that has ever existed. Confused as the person just above you is against that... |
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How does that make sense? Using that logic wouldnt i be able to randomly buy a bit coin and see the whole history of it...
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Would I effectively cover up my trace if I used a service like coinbase to transfer funds from my bank to the wallet of bitcoins on coinbase, then to an anonymous wallet like blockchain, and then from there to wherever i want, anonymously?
Everything involving your bank in traceable. But blockchain is supposed to make it anonymous, and then if i sent it to another anon wallet it would be even more anonymous... shouldn't that cancel out the fact the bitcoins came from my bank account by the time i spend them? |
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Anyone?  |
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Would I effectively cover up my trace if I used a service like coinbase to transfer funds from my bank to the wallet of bitcoins on coinbase, then to an anonymous wallet like blockchain, and then from there to wherever i want, anonymously?
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Im talking about people on here. They have the currency exchange section where a people i see trade moneypak for bit coin.
You could try. There are plenty of people who buy MoneyPak with their bitcoins from the two services which offer it (FastCash4Btcoins and BTCPak.com), but with that comes the assurance from a reputable party that has traded hundreds of thousands of dollars worth of these things. It is a different risk profile with an individual. But who knows, with the exchange rate rally, someone might be wanting to cash out right nao and be willing to chance it. Take a look here: http://www.bitcointrading.com/forum/bitcoins-for-sale-exchanges/ |
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But also, would they accept my trade offer for moneypak if i provided proof that i purchased the card?
About the only interaction a bank has with MoneyPak is being able to use it to load a prepaid debit card. There are not any standing offers to sell bitcoins for MoneyPak that I'm aware of. Im talking about people on here. They have the currency exchange section where a people i see trade moneypak for bit coin. |
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Is there a reason you didnt mention coinbase in your reply in my thread?
Well, they use the ACH network to transfer funds from your bank account. This is the same method that PayPal supports (by linking your bank account), and Dwolla, Serve, etc. all use the same method. You had said no ID, and a bank transfer implicitly has your ID (as the bank has your ID associated with your account.) Derp, my bad. Thank you! |
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What is currently the cheapest way to get USD from a US bank account or cash to an exchange like btc-e?
Dwolla is among the cheapest methods of moving funds from your bank account to an exchange. The exchanges which accept Dwolla are Mt. Gox and Camp BX. The cost is just $0.25 per transaction. The drawback is that there is a 30-day probation period after your first funds are pulled into Dwolla before you can then transfer money to a Bitcoin exchange. Another method is Coinbase. They charge 1% and their exchange rate is close to Mt. Gox. The problem is that they max out at $100 per transaction. - http://www.CoinBase.comFor larger amounts, Bitcoins Direct, a "bulk" dealer, is inexpensive. They have a minimum $1,000 per transaction limit though. They also don't always have coins for sale. BitMe allows cash deposit at a Chase bank location. The problem is that the liquidity isn't always that great, and slippage can occur -- sometimes even for a few hundred dollar's worth. - http://www.BitMe.comIf you have or can get ING direct, then that method to BitFloor might work. There is a history though following their security breach that you may wish to familiarize yourself with though before choosing this option. So that leaves bank wire to an exchange (such as Mt. Gox). Bank wires are a costly method for anything but larger transfers. Now there may be somone local who is trying to sell. Sometimes they are just looking to trade at the current exchange rate (no fees). - http://www.LocalBitcoins.comIs there a reason you didnt mention coinbase in your reply in my thread? Not trying to be rude but im seriously curious, not sure if for a reason or you just didnt think about it, cause if coinbase lets you transfer money from your bank to it's wallet, and then to a different wallet for a low fee like that, it seems too good to be true. |
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Thank you very much for all that info.
It looks like instant and me are my main options, but instant might require ID so that's out. And a chase bank closest to me is 30 minutes and 25 miles away, does that seem too far to be transferring money that is under 200 dollars? 30 mins there and 30 back..
But also, would they accept my trade offer for moneypak if i provided proof that i purchased the card?
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arent there people that do it though? like as a service with a fee..
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So is the way i described completely undoable then? It seems like the best and cheapest way.
Bitinstant is confusing and i dont want to be showing ID and what not, and i would rather not deal with another person in person...
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Hey all, im in dire need of bitcoin and im trying to figure this out, cause its really confusing to me. But just to double check before i do something stupid, I can buy a moneypak from a place like walgreens or cvs, and then trade it with someone on here. Say I have a 50 dollar moneypak. Going by the "last MT" price, i can trade with someone on here and receive around 3.99 bitcoins. How does that transaction take place? Either way, lets say it takes place even though i dont know particularly how. They would then send the bitcoin to a wallet that I have on blockchain, and then I give them the moneypak. Then I can put the bitcoin wherever i want to, anonymously, and then they have my 50 dollar money pak.
CORRECT?! Please correct or inform me in any way. Ive read many articles but there are so many different services and methods and what not I don't get far...
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